Ideagen (IDEA)

Sector:

IT Services

Index:

FTSE AIM 100

165.50p
   
  • Change Today:
      0.50p
  • 52 Week High: 207.00p
  • 52 Week Low: 138.00p
  • Currency: UK Pounds
  • Shares Issued: 226.62m
  • Volume: 266,731
  • Market Cap: £375.05m

Ideagen trades in line amid Covid-19, reiterates FY guidance and dividend

By Iain Gilbert

Date: Tuesday 19 May 2020

LONDON (ShareCast) - (Sharecast News) - Information management software provider Ideagen reiterated its full-year guidance and final dividend on Tuesday, stating it had continued to perform well despite the Covid-19 pandemic.
Ideagen expects to report a 21% jump in revenues to approximately £56.6m, while adjusted underlying earnings were pegged to be up 29% to roughly £18.5m on an IFRS16 basis and 22% to about £17.5m on a like-for-like basis.

Annual recurring revenues recognised was projected to be £43.1m, representing an increase to 76% year-on-year.

Cash generated by operations was ahead of expectations at over 95% of adjusted EBITDA, resulting in a gross cash balance of £8.2m and gross bank borrowings of £25m at the period end. Net bank debt at the year-end of £16.8m was lower than anticipated and comfortably within banking covenants.

As a result, the AIM-listed group believes it has "the right financial model" to meet market expectations for the current year and continue to pay a dividend in line with its progressive policy.

Chief executive Ben Dorks said: "We are pleased to report that despite the impact of Covid-19, the group has continued to perform well in delivering yet another year of quality earnings growth underpinned by strong cash generation.

"The group has now successfully transitioned to primarily a recurring revenue model and has quickly responded to the new and challenging business backdrop we all face."

As of 1015 BST, Ideagen shares were up 0.93% at 163p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

Ideagen Market Data

Currency UK Pounds
Share Price 165.50p
Change Today 0.50p
% Change 0.30 %
52 Week High 207.00p
52 Week Low 138.00p
Volume 266,731
Shares Issued 226.62m
Market Cap £375.05m

Ideagen Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
99.53% below the market average99.53% below the market average99.53% below the market average99.53% below the market average99.53% below the market average
95.83% below the sector average95.83% below the sector average95.83% below the sector average95.83% below the sector average95.83% below the sector average
Price Trend
66.14% above the market average66.14% above the market average66.14% above the market average66.14% above the market average66.14% above the market average
47.57% above the sector average47.57% above the sector average47.57% above the sector average47.57% above the sector average47.57% above the sector average
Income
95.34% below the market average95.34% below the market average95.34% below the market average95.34% below the market average95.34% below the market average
100% below the sector average100% below the sector average100% below the sector average100% below the sector average100% below the sector average
Growth
84.32% above the market average84.32% above the market average84.32% above the market average84.32% above the market average84.32% above the market average
84.95% above the sector average84.95% above the sector average84.95% above the sector average84.95% above the sector average84.95% above the sector average

What The Brokers Say

Strong Buy 2
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 2
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Ideagen Dividends

  Latest Previous
  Interim Final
Ex-Div 27-Feb-20 07-Nov-19
Paid 18-Mar-20 26-Nov-19
Amount 0.10p 0.19p

Trades for 10-Jul-2020

Time Volume / Share Price
16:04 46,260 @ 165.00p
17:04 5,000 @ 165.50p
16:28 8,500 @ 165.50p
16:28 8,500 @ 165.50p
16:28 8,500 @ 165.50p

Ideagen Key Personnel

CEO Ben Dorks
COO Barney Kent
CFO Emma Hayes

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